The future of Wynn Resorts in Massachusetts remains uncertain as the situation further knotted this Wednesday. Massachusetts Gaming Commission’s Chairman Stephen Crosby filed his resignation letter only 24 hours before the scheduled monthly meeting reviewing results from the extensive investigation of the casino developer and its former CEO Steve Wynn.
One comment issued in the public space is enough to undermine the credibility of a prolonged probe into the alleged sexual misconducts of former CEO of the casino developer. This could be confirmed by Mr. Crosby who expressed his personal position in relation to Mr. Wynn, stating that he is a “terrible predator”. As a result of this statement, questions regarding the credibility of the investigation results were raised.
Undermining Evaluations Lead to Resignation
L. Lin Wood is an attorney seeking to protect Steve Wynn’s rights, directly addressing the situation in a letter to Mr. Crosby. Since comments were made before the investigation process’ conclusion, Mr. Wood stated that this makes the findings questionable. Furthermore, Mr. Wynn’s official position was also issued, stating that he refuses to participate in future litigation and he maintains his previous position.
He further clarifies that the prolonged investigations conducted by both Nevada’s and Massachusetts’ gaming regulators must “cease immediately”. Back at the very beginning of the year, Mr. Wynn stated that he denies all unfair accusations, maintaining his position as of this day. The subject has been thoroughly examined by the Massachusetts Gaming Commission since the beginning of this year.
Soon after Mr. Wynn was accused of alleged sexual misconducts occurring at the workplace involving his subordinate employees, the investigation process launched. Following months of probing, this week was chosen as the one which would witness the public announcement of findings, having the potential to make or break Wynn Resorts future in the state, as well as affect the overall reputation of the company.
Industry Anticipates Investigation Findings
This has not been the first rock thrown at Mr. Crosby, as rival tribal casino developer Mohegan Sun recently accused him of giving an unfair preferential treatment to Wynn Resorts leading to its license acquisition. Encore Boston Harbor is the $2.5 billion integrated resort set to launch next summer. Mohegan Sun placed a bid for the said Massachusetts Region A gambling license but failed to obtain it. The tribe oversees the operation of its Connecticut facility which would be directly affected by the resort’s future operation, due to its relative proximity.
Just like in every other sphere of our life mistakes could occur and the gaming commission opted for a re-evaluation of the licensing it issued to Wynn Resorts in December 2013. This, in turn, led to the unearthing of more information regarding the nature of one of the previous owners of the land where the $2.5-billion integrated resort rises. In late 2012 the Boston Business Journal identified one of the previous FBT Everett Realty owners as a convicted felon.
Mr. Crosby stated in his resignation letter to the Massachusetts Gaming Commission, that being dragged into such a complicated situation is bound to interfere with the normal operation of the regulator. Integrity is one of the most valuable assets of MGC and this should remain true in the future. Any future speculations could be avoided with the help of his resignation. This Thursday is set to witness the monthly meeting on which anticipation information would be issued in the public, shedding more light on Wynn Resorts future.